No Medical Exam Life Insurance Rates for 63 Year Olds

Written on August 19, 2016 by LJM Life Insurance

Close

No Medical Exam Life Insurance Rates for 63 Year Olds

No Medical Exam Life Insurance Rates for 63 Year Olds  You can get an immediate quote by entering your information in the quote box on the side of this article

If you would prefer to speak to a Licensed Life Insurance Agent, simply call 1-844-528-8688 we will discuss your specific situation and give you an unbiased quote on the amount and term length of the policy you need.  We are an Independent agency, we do not work for just one insurance company we work for you, the consumer.

We are contracted with all the nations top rated carriers, to get you the very best pricing on the life insurance policy you need to protect your family and your assets.

No Medical Exam Life Insurance When You are 63

When you are 63 years old not only does the reasons for having life insurance change but so does the type of products, amounts and term lengths available to you.  One type of policy that is still available to you is the No Medical Exam Term Life Insurance, same as fully underwritten policy but no Medical Exam.

The exam for Life Insurance is time consuming and it is no fun being poked and prodded.  Years ago this was the only way to get Life Insurance, but those days are now over.

We have all the major carriers for the product called “no medical exam Term Life Insurance”  sometimes called Non-Med Term Life.  This product is exactly as the name says  you take No Medical Exam and you can get coverage up to $500,000.00 in some cases.

The pricing for No Medical Exam Life Insurance Rates for 63 Year Olds the best it has been in years, you no longer need to sacrifice to afford this product, but you do need to be in fair to good health.

No Medical Exam Term life insurance rates for a 63 year old male “Preferred” health class (with minimal or no health issues), monthly rates:

AMOUNT           $10,000       $25,000          $50,000       $100,000       $250,000        $500,000

10 year term        $34.33          $39.87             $48.27          $77.04          $180.45           $363.01

15 year term       $34.33           $49.90            $76.67          $106.83         $249.08           $519.82

20 year term      $34.33           $60.58            $78.47         $128.58          $281.58           $556.86

30 year term      $34.33           $79.31            $154.29       $304.25        *None               *NONE

*Rates will vary by health class and location, these are sample rates for a random zip code with person age 63 at preferred rate class. 

No Medical Exam Term life insurance rates for a 63 year old female “Preferred” health class (with minimal or no health issues), monthly rates:

AMOUNT           $10,000       $25,000          $50,000       $100,000       $250,000        $500,000

10 year term       $34.33          $29.65            $29.80         $45.79          $90.26          $174.23

15 year term       $34.33          $38.32            $41.21         $65.64          $149.72        $293.14

20 year term      $34.33          $47.70            $59.74         $82.89          $184.60        $362.89

30 year term      $34.33          $79.31           $154.29        $304.25        *None          *None

*Rates will vary by health class and location these are sample rates for a random zip code with person age 63 at preferred rate class.

Benefits to No Medical Exam Life Insurance

If you are in good physical condition you can avoid all of the hassle described above by calling us for a NO Medical Exam Life Insurance Policy 1-844-528-8688.

How No Medical Exam Life Insurance Companies Check Medical History

The application answers and the information on several reports will be used as the underwriting.

  • Companies Applications Might Vary but the basics are:
    1. History for recent Medical background
      • The MIB
      • No Medical Exam Life Insurance Rates for 63 Year OldsPharmacy Report
    2. Smoking or Non smoking
    3. Your Driving Record
    4. Your current weight and height
    5. Are you a Citizen
    6. On a case by case basis a statement from you physician can be ordered.
  • Policy decision and delivery is very fast
  • The Normal medical examination is not needed.

 No Medical Exam Life Insurance Rates for 63 Year Olds

The older you get the more health issues pop up, that has a negative effect on insurance rates of all kinds and Term Life Insurance is no different.  The rates will increase the older you get and as your health deteriorates the possibility is very real of not getting the coverage you want.  To see how the difference just 5 years can make please have a look at this article:  http://ljmlifeinsurance.com/no-medical-exam-life-insurance-over-age-60/

No Medical Exam Life Insurance if You are Age 63

Over sixty and looking for  Life Insurance, you have several choices for the type of coverage.  What product is the right fit your is determined by what you need the benefit amount to do for you and is also depending on the person’s needs and budget.

If you are looking for coverage for a specific amount of time only then Term Life Insurance would be a perfect choice.

Term Life Insurance is offered in both fully underwritten and Simplified Issue (which is the No Medical Exam Policy).

You would also be able to get Whole Life or Permanent Insurance, these types of plans build cash value and are typically used to pay off certain things such as funeral expenses.   While larger whole life plans are not the norm at this age, some do use them as investment vehicles.

The most common would be Final expense insurance, which is a smaller amount of whole life insurance used for the expenses that occur during the funeral process.  We do carry several Final expense companies if you are looking for this type of coverage.  Just give us a call and we will be happy to quote your needs, 1-844-528-8688.

Term Life Insurance coverage needs for persons 63 years old

No Medical Exam Life Insurance Rates for 63 Year Olds

Household Expenses

Someone who is age 63 will normally look for Term Life Insurance for a shorter term than someone who is in their 30’s or 40’s with young children at home.

The major debts are paid or very close and the reasons for a term policy change.  As you near retirement the focus changes from income replacement to retirement income protection.

Some things to consider would be what debt will be left after the insured passes, such as mortgage and car payments, coverage for funeral expenses and the retirement income that might be lost.

A good rule of thumb is to calculate the current income and multiply it x 10, while considering all outstanding debt.  If you calculate the current living expenses, it will give you a good starting point, but you will need to figure in any amount needed to pay off any major debts.

Consider any inheritance you wish to leave for spouse, children and grandchildren, you might want to help with educational expenses for the extended family or just to leave a legacy to help them excel in life.

Companies With No Medical Exam Life Insurance Rates for 63 Year Olds

Many companies are now offering No Medical Exam Term Life Insurance and more top rated carriers are entering the market every year.  This not only helps with pricing but gives you the option to choosing the most stable companies.  You can read our review of the top companies here:  http://ljmlifeinsurance.com/5-best-no-medical-exam-term-life-insurance-companies/

Call 1-844-528-8688 and we will discuss all of the options available to you, and there is never a fee for our assistance.

About LJM Life Insurance
About LJM Life Insurance

We work with individuals across the nation to secure the best life insurance rates.

This entry was posted in No Exam Life Insurance. Bookmark the permalink.

Leave A Reply